Radiant Logistics' 9.75% preferreds admitted to begin trading on NYSE

By Tali David

Minneapolis, Dec. 23 - Radiant Logistics Inc.'s 9.75% series A cumulative redeemable perpetual preferred stock has been admitted to trading on the New York Stock Exchange, according to a notice.

The notes trade under the symbol "RLGT PRA."

The company priced $20 million of the preferreds on Dec. 12, with a $980,000 over-allotment option exercised on Dec. 20.

The preferreds will be issued as depositary shares representing a 1/1,000th interest.

As reported, Sterne Agee & Leach, Inc. and Janney Montgomery Scott LLC are the joint bookrunning managers. Boenning & Scattergood, Inc. and National Securities Corp. are the co-managers.

Proceeds will be used to retire the outstanding balance owed under the senior subordinated notes issued to Caltius and to reduce the amount outstanding under a $30 million credit facility with Bank of America, NA.

Radiant is a Bellevue, Wash.-based non-asset-based transportation and logistics services company that provides domestic and international freight-forwarding services.

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